Why is it important for a business to build up or have access to a "reserve" of capital?
Answers: This reserve of capital is to help pay other cost that may happen that you did not plan .water line breaks ect. it is also moneys to cover bills until you get people know about your business .it is said that it takes 3 to 5 years to get a business going to the point that it is paying it for it self. there for you can use the capital to keep you going.
filled out by mdntfever
www.tappsuniqueitems.net
Am looking to start aninternet base business and obligation to find wholesalers of elerical goods(ipods,mp3s,phone)
need to find wholesalers who do low price to buy contained by bulk on things like mp3s phones and the approaching wondering if any one new how to contact near these people/ whether they have a website... any backing much obligedAnswers: Here's a start.
http://www.chinavasion.com/
You can do a G00GLE hunt for wholesale electronics, and see what you come up with.
Good Luck to you, ;-)
Don't forget, if you introduction from outside Europe you are responsible for the goods human being genuine and protected. This means getting a fully clad test house to check any D power goods (e.g.transformers for 'phones).
There are like mad of unsafe goods coming out of China and experiment certificates can't be trusted - lots of copies and forgeries.
In buisness 4 months and?
worried about takings i spent 26,000 on stock my takings are 21,000 ,i still own alot of stock left i am frightened of going belly up,i needed to create money to buy more stock,my outgoings are about 4,200 a month any suggestionAnswers: Everything said above sounds pretty sensible to me...I would add that you are doing great...you enjoy a turnover of over lb5000 per month and that covers your overheads..and after just 4 months contained by business!!...it probably covers your variables as well you only just can't see it ('have profusely of stock left')...sounds to me suspiciously like you are not following a business plan? If you be you would know how well you are really doing and what extra turnover and + cost reduction + price increases you might try to tweak the mixture. Sound like you are doing this base on instinct and experience but wiythout a thorough business plan?
To stand out and get more sale you could try getting creative with your marketing. Try thinking out of the box and dare to do different things to bring back new customers - don't a moment ago follow the masses next to where you're selling stock, or promotion etc.
For some inspirational ideas you could sign up for the free email tips from Chris Cardell, a chief marketer! See his site here http://www.cardellmedia.co.uk/free.html
Four months isn't very long. Many small retailers lose money for the first two years, commonly longer.
You should have planned ahead.
My friend sell kids clothes for 3 years now (new and second hand), however 80% of her stock is moved over the Internet. Do you hold your own website. If not then specifically something I would definitely consider have.
I can forward you complete detail on how to go in the order of it, presently successfully used by 100s of merchants like you but within order to do so you will enjoy to contact me at my address listed contained by my profile.